Arrowhead Pharmaceuticals, Inc. (NASDAQ:ARWR – Get Rating) – Investment analysts at SVB Leerink issued their Q3 2023 earnings per share (EPS) estimates for Arrowhead Pharmaceuticals in a research report issued on Monday, January 23rd. SVB Leerink analyst M. Foroohar anticipates that the biotechnology company will post earnings per share of $0.15 for the quarter. SVB Leerink currently has a “Market Perform” rating and a $31.00 price target on the stock. The consensus estimate for Arrowhead Pharmaceuticals’ current full-year earnings is ($0.87) per share. SVB Leerink also issued estimates for Arrowhead Pharmaceuticals’ Q4 2023 earnings at $0.15 EPS and FY2024 earnings at $1.27 EPS.
Several other equities analysts also recently weighed in on ARWR. Chardan Capital reduced their target price on Arrowhead Pharmaceuticals from $82.00 to $60.00 in a research report on Tuesday, January 10th. Piper Sandler reduced their target price on Arrowhead Pharmaceuticals from $64.00 to $55.00 in a research report on Monday, January 9th. HC Wainwright cut their price objective on Arrowhead Pharmaceuticals from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Tuesday, December 6th. B. Riley cut their price objective on Arrowhead Pharmaceuticals from $65.00 to $59.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $66.00 price objective (up from $65.00) on shares of Arrowhead Pharmaceuticals in a report on Wednesday, November 30th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Arrowhead Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $59.22.
Arrowhead Pharmaceuticals Trading Up 3.7 %
Arrowhead Pharmaceuticals (NASDAQ:ARWR – Get Rating) last released its earnings results on Monday, November 28th. The biotechnology company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.24). Arrowhead Pharmaceuticals had a negative return on equity of 40.23% and a negative net margin of 71.01%. The business had revenue of $31.58 million for the quarter, compared to analysts’ expectations of $107.60 million.
Institutional Investors Weigh In On Arrowhead Pharmaceuticals
A number of hedge funds have recently bought and sold shares of ARWR. FMR LLC grew its stake in Arrowhead Pharmaceuticals by 96.1% during the 2nd quarter. FMR LLC now owns 2,742,968 shares of the biotechnology company’s stock valued at $96,580,000 after purchasing an additional 1,344,444 shares in the last quarter. State Street Corp grew its position in shares of Arrowhead Pharmaceuticals by 19.2% in the 2nd quarter. State Street Corp now owns 5,582,746 shares of the biotechnology company’s stock worth $196,568,000 after acquiring an additional 900,791 shares in the last quarter. Western Financial Corp CA acquired a new position in shares of Arrowhead Pharmaceuticals in the 4th quarter worth approximately $33,272,000. Renaissance Technologies LLC acquired a new position in shares of Arrowhead Pharmaceuticals in the 1st quarter worth approximately $17,490,000. Finally, Commodore Capital LP acquired a new position in shares of Arrowhead Pharmaceuticals in the 2nd quarter worth approximately $11,004,000. Institutional investors and hedge funds own 65.46% of the company’s stock.
Insider Activity at Arrowhead Pharmaceuticals
In related news, insider Martin Javier San sold 19,500 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $29.99, for a total transaction of $584,805.00. Following the sale, the insider now directly owns 91,500 shares in the company, valued at approximately $2,744,085. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Arrowhead Pharmaceuticals news, CFO Kenneth Allen Myszkowski sold 30,625 shares of the firm’s stock in a transaction that occurred on Thursday, December 29th. The stock was sold at an average price of $40.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the chief financial officer now owns 336,704 shares in the company, valued at approximately $13,468,160. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Martin Javier San sold 19,500 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $29.99, for a total value of $584,805.00. Following the sale, the insider now owns 91,500 shares of the company’s stock, valued at approximately $2,744,085. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,966 shares of company stock worth $4,050,435. 3.20% of the stock is currently owned by company insiders.
Arrowhead Pharmaceuticals Company Profile
Arrowhead Pharmaceuticals, Inc is a biopharmaceutical company, which engages in the development of medicines that treat intractable diseases by silencing the genes that cause them. The firms preclinical stage drug candidates include ARO-ANG3, ARO-AAT, ARO-APOC3, ARO-HIF2, ARO-HSD, ARO-Lung2, ARO-COV, and ARO-ENaC.
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